2023 Property Taxes Got You Down?

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Quick facts on Colorado property taxes

You may not have paid too much attention to your property tax bill if you owned a home in Colorado. Truth is, property taxes in this state are relatively low compared to other U.S. states. So, this year’s county reassessments and subsequent property tax hike may feel a bit shocking.

Each county in the state of Colorado reassess property values every two years. The county takes into consideration recent home sales from a twenty-four month period of similar homes types to help derive a reassessed value for your home. The most recent reassessment period dates from July 1st, 2020 to June 30th, 2022.

For the nine Denver Metro countries looking at residential property values since June 2020, there has been a median increase ranging from 35-45%. A higher home value means a higher property tax bill.

If you feel that your home was reassessed inaccurately, you have the option to protest it.

What is a protest?

A protest is an opportunity to demonstrate to the appraisal staff in the Assessor’s Office that your property’s assigned value or classification is inaccurate. Your protest should provide evidence to support your position.

Why protest (or appeal)?

  • Incorrect property characteristics – property square footage, condition, bath count, use, etc.

  • Estimated value is too high – provide market data to support a reduction in value.

  • Incorrect property classification – the assessor is required to classify property based on the actual use as of January 1 of every year.

When is the protest period?

The protest window is open May 1st - June 8th.

Where to submit your appeal?

  • Prepare your appeal documentation. This can be a comparative market analysis (CMA) from your realtor, or yours truly.

  • Go to Denver.org and follow the instructions for the submittal process.

I’m happy to help you!

As part of your appeal, I can create an accurate Comparable Market Analysis (CMA) that you can submit with your appeal. Don’t hesitate to contact me if you have questions about this process or would like a CMA.